International institutional investors remain overweight to Asia but have tended to take their profits from emerging markets, according to State Street Global Advisors (SSgA). Lochiel Crafter, chief investment officer for SSgA in Asia Pacific, said Asia, particularly China, Taiwan and Korea, was seen as a long-term growth opportunity.
Gay, conflict, grabs readers: Christmas to end the fun
After only seven issues (including this one) it may be too early for I&T News to stage a retrospective but we’re going to do it anyway in the time-honoured end-of-year publishing tradition.
Aviva takes its place at PIS table
Aviva’s chief operating officer, Grant Salmon, and national key account manager, Stephen Trist, will join the Professional Investment Holdings (PIH) board later this month as Aviva finalises its acquisition of a 25 per cent stake in the holding company of Australia’s second largest dealer group Professional Investment Services (PIS).
Bernstein booted as NGS Super rethinks international exposure
The newly merged NGS Super fund has dropped Bernstein from its international equities lineup following a review of its portfolio last month.
Asteron knocking again on group risk door
Asteron – the financial services arm of Promina – has appointed former Rice Walker Actuaries principal, Rhonda Virtue, as national manager of group risk, and may also reopen its group risk division to new business.
$10 billion target as Zurich plans makeover
Zurich Investments will bring three previously unavailable, US-based funds managers to Australia over the next three to six months in the high-yield, absolute return and global property space, as it seeks to boost its image and funds under management.
Australian financial institutions back away from new technology
Australian financial institutions are planning to spend less on innovative technology in 2006 than the majority of their global counterparts, according to preliminary results of a survey by Forrester Research.
Washington Post deal to push Tribeca higher
Tribeca’s acquisition by Washington-Post owned Kaplan is expected to help facilitate the Australian-based financial services education provider’s foray into higher education, according to Don Stammer, Tribeca chairman.
Future Fund fraudsters face five years in jail
The Future Fund board of guardians and staff of its management agency will be subject to separate criminal penalties of up to five years in prison for offences to do with dishonesty or recklessness. The criminal provisions are contained in the Future Fund Bill, tabled in Parliament last week.
Letter: BNP Paribas refutes custody price war story
BNP Paribas Securities Services would like to comment on your article (I&T News, December 6) regarding our appointment as custodian to the Insurance Commission of Western Australia (ICWA).
Rebel with a practice: how a PIS planner keeps his individuality
Maintaining your beliefs within a dealer group can be a tough ask for many financial advisers – hence the constant flow of planners in the industry. But PIS adviser Paul Brown has found the balance between dealer pressure and personal attitudes.
Costello hands Future Fund liberal mandate on investments
The Future Fund is scheduled to be seeded with $18 billion by July 1 next year, but the legislation introduced to Parliament last week is scant on details as to how the fund will operate.
